Business Plan Preparation
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Questions and Answers

What is the first step in preparing a business plan?

  • Creating the financial projections
  • Outlining the marketing strategy
  • Hiring the management team
  • Conducting market research (correct)

    • What is a key component of a business plan?

  • Negotiating partnership deals
  • Identifying the target market (correct)
  • Developing the customer service strategy
  • Building the product prototype

    • Which activity should be included in the operational plan section of a business plan?

  • Installing the office furniture
  • Designing the logo and brand colors
  • Drafting the employee training manual
  • Laying out the production process (correct)

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